Business confidence falls to 14-year low

Companies / 5 June 2014, 12:25pm

Reuters

Filomena Scalise

Johannesburg - South Africa's business confidence plunged to 88.9 in May, falling 3.7 points to below 90 for the first time since April 2000 with businesses concerned about weak growth, a survey showed on Thursday.

The South African Chamber of Commerce and Industry (SACCI) said some of the country's challenges such as low economic growth and a persistent balance of payments gap could be addressed by policy.

“What is of greater concern are the challenges that are more complex in determining policy responses including concerns about property rights, unemployment, income disparities and rising levels of labour protest action,” it said in a statement. - Reuters